Please outline for me or correct my assumptions about beneficial ownership requirements for both Participation Loans and Pooled Investment Vehicles.

For the Participation Loans, the lead participant would be required, as applicable (if the loan customer is defined as a legal entity customer), to collect and monitor the beneficial ownership and then confirm reliance to the participants.

For Pooled Investment Vehicles, only the Control prong applies.

I think my brain is fried at this point.